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Caixa studies Uruguay betting model after postponing its launch

Deals & M&A

Caixa Econômica Federal reportedly sent three executives to Montevideo from 24 to 26 September to examine Uruguay’s state-run fixed-odds betting model. The visit followed Caixa’s decision to defer its planned Brazilian betting platform from 2026 to 2027, or possibly abandon it; the institution had paid R$30 million for an operating authorisation.

The review could shape Caixa’s plans for a Brazilian betting service and its approach to state involvement in the market.

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Regulation

Brazil’s betting ban leaves operators’ future subject to court and Congress

Brazil’s fixed-odds betting ban remains in force as legal challenges proceed before the Supreme Federal Court and the measure awaits congressional consideration, according to the report. Existing operator authorisations expired on 25 October after the 30-day transition period; a suspension or lapse of the measure would not necessarily restore them automatically.

Brazil's fixed-odds betting ban remains in force while the Supreme Federal Court and Congress consider its validity, after President Luiz Inácio Lula da Silva's re-election added uncertainty to the sector's future, according to the report. Lula defeated Flávio Bolsonaro with 51.8% of the vote against just over 48%, according to official results. The victory strengthens Lula politically but does not by itself resolve the legal battle or make the prohibition a permanent rule.

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